Payments UK has developed a directory to offer UK institutions some of the benefits of SEPA despite the regulation not applying within the country until October. From 1 February, Eurozone banks and Payment Service Providers (PSPs) can process Single Euro Payments Area (SEPA) payments using only a customer’s IBAN (International Bank Account Number). Previously customers were […]
Financial software provider Misys has appointed Rob Binns as its chief financial officer. Binns joins Misys from HP where he was head of treasury and investor relations. He joined Hewlett-Packard in 2007 from Mercury Interactive and has held a number of senior finance positions in the company including VP Software Field Operations and VP Investor […]
Malaysia headquartered RHB Investment Bank (RHB) has implemented Fidessa as its trading platform across Asia. The system, managed by Fidessa throughout the region, provides algorithmic trading across all member markets, ‘intelligent’ indications of interest (IOIs) and a centralised order management system (OMS) with integrated middle-office to support RHB’s regional business. The ability to on-board a […]
The largest vendors in the trader voice market are now in a similar position to IBM in the late 1990s: their solutions are proprietary, expensive to maintain, and lacking true open integration …
Emprise Bank, based in Kansas in the US, has selected FIS as its new core banking provider. The bank, which has $1 billion in assets and 37 branches, selected FIS on the basis of its need for high levels of support, and capacity to provide a single platform that would integrate a set of technologies. That in turn allowed […]
The online retail services of HSBC have been brought down in a distributed-denial-of-service attack according to the bank. Online services were inaccessible to clients, the second online service problem the bank’s customers have faced this month, following a two-day outage earlier in January that the bank reported was not caused by a cyber-attack. Concern about […]
BNP Paribas Corporate and Institutional Banking (CIB) has announced that it has appointed Rudi Collin as Head of Digital Transformation for CIB. Previously Collin was head of Electronic Business and Markets for the Global Markets business and prior to this, was chief operating officer for the fixed income division of the bank. In his new role, […]
Market operator Nasdaq has seen revenues from its technology sales increase, with its Technology Solutions division, which makes up 27% of total net revenues reach $146 million in the fourth quarter of 2015, up from $4 million from the fourth quarter of 2014. The exchange’s Market Technology unit, which accounts for 13% of total net revenues, […]
Britain’s payment settlement system for the pound sterling is to be redesigned and rebuilt, Minouche Shafik, deputy governor for Markets & Banking at the Bank of England (BoE) has said in a speech given at the BoE to senior figure in the UK payments business. The twenty-year old Real-Time Gross Settlement System (RTGS), which settles […]
Global investment and private bank, UBS, has signed an agreement to expand its use of the AppDynamics Application Intelligence Platform across its critical applications to supports its digital transformation initiatives. “Using AppDynamics we have been able to improve the speed at which we identified and remediated application issues, as well as avoid incidents in the […]
Financial software provider GATElab, part of London Stock Exchange Group (LSEG), has launched an ultra-low-latency service risk gateway to the National Stock Exchange of India (NSE). The solution is designed to enables users to send orders to the NSE equity derivatives segment in less than 30 microseconds, if all the pre-trade risk checks are met. […]
In a new whitepaper, the US post-trade infrastructure provider Depository Trust and Clearing Corporation (DTCC), has voiced its belief that the financial services industry “has a once-in-a-generation opportunity to reimagine and modernise its infrastructure” by employing blockchain in a coordinated manner. Blockchain is the transaction model used to transfer ownership of crypto-currency bitcoin. It was developed […]
Americana Community Bank (ACB) is working with RAI Stone Group, the provider of the RAI Stone Analytics platform to supports its small-to-medium business (SMB) teams, which focus on organisations employing between one and 100 people. “Using this service is adding significant, measurable return-on-investment (ROI) that might have happened over time, sure. But we didn’t see […]
Cognitive computing specialist CustomerMatrix, a co-founder of forum Cognitive Computing Consortium, has closed US$10.5 million in Series-B funding. The investment, one in a series of investments in artificial intelligence-like technologies in 2016, was led by HSBC, with participation from Aster Capital, and existing investors Newfund and True Global Ventures. CustomerMatrix, which offers a predictive engine called […]
The value of dark equity trading jumped last year despite pending European regulations which will limit a fund manager’s ability to trade shares away from stock exchanges, according to research from equities broker ITG.
A total of 45 banks including Barclays, Citi, Deutsche Bank and many others have signed up to a new payments innovation initiative headed by Swift, which is due to launch early next year. Announced in December, the initiative aims to dramatically improve the customer experience in correspondent banking by increasing the speed, transparency and predictability of cross-border payments.
Financial services are becoming “modular”, with digital distribution platforms, new product providers, alternative sources of capital and a growth in outsourcing likely to reshape the industry, according to a new report by global management consultancy Oliver Wyman.
If 2015 was all about how the financial sector continued its post 2008 crisis transformation, 2016 looks set to promise even more developments in the same vein across the EMEA region. The ongoing change continues to be remarkable in its depth and scope impacting financial institutions and technology firms like Wolters Kluwer Financial Services who exist to enable banks and others to navigate risk and regulatory complexity
Buy-side block trading venue Liquidnet has released a set of EMEA trading algorithms, which it says will help market participants to find liquidity ahead of the European Commission’s upcoming MiFID II legislation, which introduces important changes for dark pools.
Banco Santander is to begin using services provided by ATM maker Wincor Nixdorf to support its Mexican subsidiary. The services cover monitoring, maintenance and troubleshooting.
CaixaBank is launching imaginBank, Spain’s first mobile-only bank providing banking services exclusively through mobile apps and social networks.
The European Union’s initiative to create a Capital Markets Union in Europe is currently stuck in a quagmire of political debate. That shouldn’t discourage politicians and regulators from taking the necessary steps as soon as possible, according to a new report by the International Capital Markets Association.
New peer-to-peer platforms that match lenders with borrowers are proving to be more efficient than banks at connecting those with money and to those that need money. Known as marketplace lenders, this new industry is still very much in its infancy, currently representing a tiny proportion of total loans compared to bank lending
UK building society Nationwide has signed BT to provide the network infrastructure for its digital transformation strategy, as part of a six-year deal between the two firms.
French telecoms firm Orange is to create a new bank called Orange Bank together with French insurer Groupama, in a move the two firms say will help to break open the banking market using mobile phone technology.
India’s Post Bank is to begin processing payments in March 2017, according to the government’s communications minister. The move is part of long-standing plans to use India’s Post Office network to spread financial inclusion in the world’s largest democratic nation.
Aspiration doesn’t look like it used to. The face of Eighties ambition was a power dresser, clad in a suit with shoulder pads as they rushed to Wall Street to earn as much as they could, whereas today’s bright young things are more likely to be found sipping lattes at a co-working space in Silicon Valley
US payments body Nacha has set out to dispel myths about the ISO 20022 financial messaging standard with a new white paper published as part of an education programme as the US looks to convert its ACH network to the standard.
An “Implementation Playbook” detailing the timeline, milestones and dependencies involved in migrating the US equities, fixed income and unit trust markets to a two-day settlement cycle has been published by the T+2 Industry Steering Committee.
The distributed ledger – the central nervous system of the Bitcoin system – is the most sweeping departure from the long-standing financial bookkeeping practices followed since the codification of the Medici’s double entry accounting system.
A range of financial services and technology firms are backing efforts by The Linux Foundation to develop “an enterprise grade, open source distributed ledger framework”.
R3, the bank-led consortium developing the use of distributed ledger technology in financial services, has added 12 new banks as it looks at how to extend its activities to work with buy-side and non-bank institutions in the New Year.
Six out of 10 chief financial officers from mid-market and large corporate firms in the UK say they would like to see the same flexible payments technology in their business’ finances as they enjoy in their personal finances, according to a survey by HSBC.
Millennials – those highly sophisticated, tech-savvy men and women born between 1980 and 2000 – present enormous opportunities for banks and other financial institutions. Yet to be successful, these businesses must understand and meet the needs of a generation that grew up having it all, seeing it all, and being exposed to it all since early childhood – and that is no easy task.
The US and eurozone countries both look set to have live real-time payment infrastructures by the end of 2017, both using the ISO 20022 for real-time messaging standard.
Outdated legacy IT systems are a major stumbling block for traditional UK high street banks as they look to fight back against their often more agile rivals, widely known as ‘challenger banks’, who unhindered by complex, unwieldy IT infrastructures are typically better positioned to innovate.
Swift is planning to launch a global payment innovation initiative, which it says will dramatically improve the customer experience in correspondent banking by increasing the speed, transparency and predictability of cross-border payments. The platform is due to launch early next year.
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Digital technology is on the verge of transforming banking, in a similar way that Spotify has completely changed the music industry and Netflix has revolutionised broadcast entertainment
Employment prospects in the UK finance and banking sector in the New Year are the brightest in the past three years as high profile data breaches, such as those at TalkTalk and Sony, create a surge in demand for cyber-security experts.
